2023-2024 / GEST1039-1

Business simulation


30h Mon. WS

Number of credits

 Master in management (120 ECTS) (Management of Transitional Organizational Systems (MOST))2 crédits 


Anne Bils, Wilfried Niessen

Language(s) of instruction

French language

Organisation and examination

All year long


Schedule online

Units courses prerequisite and corequisite

Prerequisite or corequisite units are presented within each program

Learning unit contents

Important remark : this course is organized in English for the incoming Erasmus students of the fall term

The simulation game consists of 5 teams of 5 students each. Each team represents a company on a market, and competes with the four others. The students make up the board of the company.
The game lasts 4 days. The first half-day is devoted to presenting the game and briefing all participants. Each team makes 12 decisions, which corresponds to one decision per quarter for 3 years. According to its decisions, and the decisions of competitors, the company receives a quarterly result sheet.
After 3 simulated years of company life, the board has to present their results to their partners (shareholders, bank, works council). In the game, those partners are represented by all participants. The decisions of each team are analysed and synthesized in a final report drawn up by the organizers.

Learning outcomes of the learning unit

This course aims at helping students (working in teams) :
- discover the interaction between the major functions of a company (production, finance, marketing, human resources);
- learn how to define policies, infer objectives & compare results with objectives;
- train at decision-making.

Prerequisite knowledge and skills

FIN 505 Accounting & Finance
SC 529 Logistics and Production
MKTG 552 Marketing
RH 132 Staff Management

Planned learning activities and teaching methods

Mode of delivery (face to face, distance learning, hybrid learning)

Face-to-face course

Additional information:

The game is organized in Banneux on four consecutive days from 8.30 a.m. to 6 p.m. The first day, you must be present at 8.00 a.m.

A € 25 fee is to be paid.

Two simulations are organized each year : the first one end of October (few students involved) and the second one half-March (see agenda for precise dates).

The repartition between both simulations will be done before the first simulation.

Recommended or required readings

A leaflet with the rules of the game will be available on-line one week before the game starts.

It should be read very carefully, before the business simulation.

Exam(s) in session

Any session

- In-person

oral exam

Continuous assessment

Additional information:

1st session

The evaluation is based on the continuous evaluation during the 4 days of simulation and on the written report.


2nd session

For the second session (provided that the student has participated in the simulation
during the term), the evaluation corresponds to the analysis of a submitted file
(with one or two additional questions) and to defend it orally in August.

Work placement(s)

Organisational remarks and main changes to the course

"Enseignement toute l'année" means one simulation by part of the year.


Wilfried Niessen HEC-Ecole de Gestion de l'ULiège (Bât. N1) email : Wilfried.Niessen@uliege.be
Anne Bils HEC-Ecole de Gestion de l'ULiège (Bât. N1) Tél.: +32 4 2327262 email : anne.bils@uliege.be

Association of one or more MOOCs